633F.6 Single beneficiaries — separate trust accounts.
1. Beneficial interests in a custodial trust shall not be created for multiple beneficiaries.
2. All custodial trust property held under this chapter by the same custodial trustee for the use and benefit of a single beneficiary may be administered as a single custodial trust.
2021 Acts, ch 8, §6
NEW section
Structure Iowa Code
Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES
Chapter 633F - IOWA UNIFORM CUSTODIAL TRUST ACT
Section 633F.2 - Custodial trust — general.
Section 633F.3 - Custodial trustee for future payment or transfer.
Section 633F.4 - Form and effect of receipt and acceptance by custodial trustee — jurisdiction.
Section 633F.5 - Transfer to custodial trustee by fiduciary or obligor — facility of payment.
Section 633F.6 - Single beneficiaries — separate trust accounts.
Section 633F.7 - General duties of custodial trustee.
Section 633F.8 - General powers of custodial trustee.
Section 633F.9 - Use of custodial trust property.
Section 633F.10 - Determination of incapacity — effect.
Section 633F.11 - Exemption of third person from liability.
Section 633F.12 - Liability to third person.
Section 633F.14 - Expenses, compensation, and bond of custodial trustee.
Section 633F.16 - Limitations of action against custodial trustee.
Section 633F.17 - Distribution on termination.
Section 633F.18 - Methods and forms for creating custodial trusts.
Section 633F.19 - Applicable law.
Section 633F.20 - Uniformity of application and construction.